[pcntech]

Purchased my home near Sawgrass grove in Jan 2022. My annual bond payment is 2,900.00. 30K bond. This 80K bond is very high to me. If someone is trying to get a water front lot, that will have a lot premium of upwards of 100K plus the 80K bond plus price of house. Glad we got the house we did when we did. Our expenses are manageable.....only thing that bugs me is school district wanting more money every year. Millage for schools is higher than the Sumter County Millage. Remember.....everyone, especially contractors, have attitude that "Oh you're retired and living in the Villages....you must be rich".

[Bogie Shooter]

Originally Posted by pcntech

Purchased my home near Sawgrass grove in Jan 2022. My annual bond payment is 2,900.00. 30K bond. This 80K bond is very high to me. If someone is trying to get a water front lot, that will have a lot premium of upwards of 100K plus the 80K bond plus price of house. Glad we got the house we did when we did. Our expenses are manageable.....only thing that bugs me is school district wanting more money every year. Millage for schools is higher than the Sumter County Millage. Remember.....everyone, especially contractors, have attitude that "Oh you're retired and living in the Villages....you must be rich".

Where is there an 80k bond in TV?

[JohnN]

Purchased in St.James in 2012, some of the very last new construction north of 466A. Our bond was $13,000 and I thought that was high at the time. Now it seems like a great deal.

[ElDiabloJoe]

Originally Posted by golfing eagles

No developer, anywhere, ever, is going to build infrastructure "on his own dime". Usually it is included in the price of the home, here it is financed by bond offerings. Same difference, but it does make the price of the home appear to be lower. No different that the low fare airlines that then want to charge you extra for the engines or a pilot.

Another way that it is done is how new development is handled in California. At least 35 years ago, a thing called "Mello-Roos" was passed, named after the political authors.

It is essentially the same as a bond and a CDD. A type of CDD is formed, and a municipal bond is secured to fund schools, roads, sewers, etc.

It is another 1% or so (in addition to the 1.1% property tax) added as a separate line item to your property tax bill. So, if you sell, you stop paying. It cannot be paid in advance, and it is your home's share of the neighborhood's infrastructure bill. Once the municipal bond is paid off, the Mello-Roos tax ends for the homeowner. Usually about 30 years.

Very similar.

[charlieo1126@gmail.com]

I’ve sold 5 new homes in the villages , I never stayed more than 4 years in any of them ,so the bond was still very high on them . The longest any of them were on the market was a couple of months. You get maybe one or 2 people who will offer a bid subtracting the price of bond , you just say no . ,the rest don’t care . The current market may be different now but I’ve sold in down markets before ( not here) if you have a good product and right price it will sell and I’m also always prepared to stay in the house if I need to

[cherylncliff]

Originally Posted by LoisR

Just read two articles in today's Daily Sun about two new Village developments to be built (Bellaviva at Whispering Hills and Cypress Reserve).
Both have posted yearly assessments of over $8000 for a single family home.
Am I correct in this figure?
How many people can afford this?

We bought new in Buttonwood in 2010 and bond was about $36,000 as I recall. Given that the developer negotiated that the local taxes would pay for roads and such it's surprising the bond is so much higher.

[Two Bills]

Recent rise of new house bonds, makes buying in the northerth established areas of TV. look a far better option.
Keeps northern resale prices at a reasonable price as well.

[Normal]

Originally Posted by cherylncliff

We bought new in Buttonwood in 2010 and bond was about $36,000 as I recall. Given that the developer negotiated that the local taxes would pay for roads and such it's surprising the bond is so much higher.

Sumter County does pay for infrastructure in the Villages. They cut a check for 50 million last year for new development just south of the turnpike to the developer.

[Bill14564]

Originally Posted by cherylncliff

We bought new in Buttonwood in 2010 and bond was about $36,000 as I recall. Given that the developer negotiated that the local taxes would pay for roads and such it's surprising the bond is so much higher.

Originally Posted by Normal

Sumter County does pay for infrastructure in the Villages. They cut a check for 50 million last year for new development just south of the turnpike to the developer.

The bond pays for the construction of the roads in the Villages, local taxes pay for care and maintenance of the roads. Villa roads are a special case, the CDD pays for maintenance of those.

Sumter County does not pay for infrastructure in the Villages. The payment you are referencing (not sure if your number is correct) was for improvements to existing County roads. In some areas the County would use their road crews to make the improvements but here they contract it out. In this case a company of the Villages performed the work.

[kansasr]

Originally Posted by Bogie Shooter

Where is there an 80k bond in TV?

The highest one I've seen so far is $72,080.45 for unit 84V in Dabney.

[Altavia]

Originally Posted by Bogie Shooter

Where is there an 80k bond in TV?

The bonds the OP is referring to are in a different development in Leesburg/ Lake County, not the Villages.

https://www.talkofthevillages.com/fo...22-post17.html

[Bogie Shooter]

Originally Posted by Altavia

The bonds the OP is referring to are in a different development in Leesburg/ Lake County, not the Villages.

https://www.talkofthevillages.com/fo...22-post17.html

Of course I knew that.
But the way pcntech posted it appeared he/she was inferring it was happening in TV.
Others are making the same mistake…….

[Emkay56]

I can't believe how many people are purchasing down south when the bonds are so much higher than buying an existing home north of Hwy 44. No wonder Villages sales agents tend to push people down there first before showing them existing homes.... there are so many existing homes for sale in the developed areas as well as more shopping, restaurants, activities, entertainment, better landscaping, etc. It's a no brainer in my opinion to buy north of 44

QUOTE=retiredguy123;2399257]OP, it looks like your figure is correct. The bond amount for a typical single family house in Cypress Reserve is estimated to be $87,408.62, and the annual bond payment to be $8,348.69, to include principal, interest, and the admin fee. As to how many people can afford it, I assume that a lot of people will be able to afford it.[/QUOTE]

[asianthree]

Originally Posted by Emkay56

I can't believe how many people are purchasing down south when the bonds are so much higher than buying an existing home north of Hwy 44. No wonder Villages sales agents tend to push people down there first before showing them existing homes.... there are so many existing homes for sale in the developed areas as well as more shopping, restaurants, activities, entertainment, better landscaping, etc. It's a no brainer in my opinion to buy north of 44

QUOTE=retiredguy123;2399257]OP, it looks like your figure is correct. The bond amount for a typical single family house in Cypress Reserve is estimated to be $87,408.62, and the annual bond payment to be $8,348.69, to include principal, interest, and the admin fee. As to how many people can afford it, I assume that a lot of people will be able to afford it.

[/QUOTE]

First and needs to be corrected the OP stated new home development, with 87k bond is in the Villages..

IT is Not Village Property.

Second VLS guys don’t receive commission on Bond, because it’s Not part of the home price, also build property the addition of a pool, there isn’t a VLS commission either.

So VLS could actually make more money on a preowned home. Usually the price tag is higher than new. So in our experience, since 2007, we requested preowned in certain villages and that’s the 100 plus homes we looked at, over the years. Not anytime were we pressed to look at new. It was our decision to buy 3 new because of future repairs and dated interior. Plus we really wanted to be with younger residents, hence the continued migration to the south

[Birdrm]

[QUOTE=Emkay56;2399631]I can't believe how many people are purchasing down south when the bonds are so much higher than buying an existing home north of Hwy 44. No wonder Villages sales agents tend to push people down there first before showing them existing homes.... there are so many existing homes for sale in the developed areas as well as more shopping, restaurants, activities, entertainment, better landscaping, etc. It's a no brainer in my opinion to buy north of 44

Not always true, I bought a Courtyard Villa in 2022 well south of 44 and my bond was less than 15k!